Solar Panel Cost Guide in Norwood, MA (2024 Update)
- Norwood Solar Installation Cost: $12,529
- 25-Year Savings: $16,361
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Norwood
See how much it might cost to switch to solar power in Norwood.
Although the national average of solar panels is $2.66 per watt, solar panels in Norwood generally cost about 4.The average solar panel system size in Norwood is around 4.4 kilowatts, meaning a cost of about $12,529 for a solar installation, or $17,916 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Norwood based on several factors, such as the brand of solar panels you choose and the solar installer you hire.Many homeowners find going solar is a solid investment. The average homeowner in Norwood can save about $22,000 on their power bills over 20 years.
To get a free estimate from a vetted solar installer in Norwood, you can click the button below.
Solar savings over time in Norwood
| Year | Return on Investment |
|---|---|
| 1 years | $-10,928 |
| 3 years | $-7,725 |
| 5 years | $-4,523 |
| 7 years | $-1,320 |
| 9 years | $1,882 |
| 11 years | $5,085 |
| 13 years | $8,288 |
| 15 years | $11,490 |
| 17 years | $14,693 |
| 19 years | $17,896 |
| 21 years | $21,098 |
| 23 years | $24,301 |
| 25 years | $27,503 |
Top Solar Installers in Norwood
Although you can install solar panels yourself, it takes extra effort and handiness. That's why the majority of homeowners choose to hire a solar panel installer. Plus, if you’d like to maximize your investment in solar energy, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
If you're searching for a solar company in Norwood, we've organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Norwood
Factors that Affect Solar Panel Costs in Norwood
The cost of installing a solar system in Norwood can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Norwood average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Norwood homeowners opt to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Norwood, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.The company’s size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $16,880 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $22,961 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $29,270 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $35,806 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,570 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,560 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,779 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,224 | 11.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose considerably affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Norwood, MA Solar Cost FAQs
What is the average cost of installing solar panels in Norwood?
The average cost of solar panels in Norwood is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Norwood, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.